The Korea Chamber of Commerce and Industry (KCCI) announced on the 21st that it will hold the '3rd Republic of Korea Social Value Festa' at COEX in Gangnam-gu, Seoul, until the 22nd, under the theme 'Beyond Thoughts to Action, Beyond Problems to Solutions,' presenting an execution-oriented collaboration model.
This year's event, expected to attract about 15,000 visitors, will see participating institutional investors increase from 344 last year to over 400, marking the largest scale in history.
In the main session 'Leaders Summit,' approximately 150 leaders from corporations, government, finance, foundations, and the social economy gathered to discuss solutions under the theme 'How Capital Can Cultivate Social Value.'
The Leaders Summit is a forum where leaders from various sectors present key issues requiring attention and discuss cooperation strategies for solving social problems. In 2024, discussions focused on the need for collaboration across major social issues and fields; last year, participants deliberated on methods to measure and evaluate outcomes of social problem resolution.
Speaking as a presenter, Kim Jeong-tae, CEO of MYSC, emphasized that "solving social problems is a high-risk, long-term project, making it difficult to sustain with single capital alone." He stressed that a "mixed finance" system must be established where government subsidies, donation capital, impact investment, and loans sequentially assume roles at each stage.
Kazunari Taguchi, representative of Borderless Japan, introduced the 'Onokuri' model, which reinvests 10% of corporate profits into startups. Representative Taguchi stated that "the virtuous cycle between 'patient capital,' which does not rush to recover investments until results appear, and 'growth-promoting capital,' which assumes risks associated with scaling up after performance verification, is the key to sustaining the social problem resolution ecosystem."
The subsequent panel discussion included Mok Seung-hwan, Director of the Ministry of SMEs and Startups; Jo Young-moo, Head of NH Financial Research Institute; Kim Eung-su, [Name Redacted]; Song Ho-jun, Amorepacific CSR Team Leader; and Kim Jin-ah, Secretary General of Beautiful Foundation. Participants emphasized the need for role allocation and connection structures tailored to the characteristics of capital from government, finance, pension funds, corporations, and foundations.
The exhibition featured over 300 display and market booths across four thematic zones: Collaboration, Innovation & Environment, Region, and Society. Companies such as SK Hynix, SK Telecom, and Hyundai Marine & Fire Insurance, along with government and public sector entities including the Ministry of the Interior and Safety, Korea Tourism Organization, and the National Sports Promotion Foundation, participated to showcase cases of social value creation.
Collaborative programs were also expanded. Over two days, 49 programs organized by 47 institutional investors will be held at the main stage, independent stage, and conference rooms—an increase of 10 from last year's 39 programs.
Collaboration with international organizations was strengthened. The KCCI co-hosted a 'Social Solidarity Economy Activation Forum' with the United Nations Development Programme (UNDP). It is also scheduled to discuss global regulatory trends and sustainability based on supply chain data with the United Nations Environment Programme (UNEP). The UN Global Compact Korea Association (UNGC) deliberated on impact measurement and execution cases for creating social value.
This year's Festa expanded the subject of 'solving together' to include ordinary citizens, reflecting last year's high proportion of general citizens (41.3%) and youth in their 20s and 30s (62.1%) among attendees. On the 22nd, events such as a 'Social Value Film Festival' with film critic Ju Sung-cheol and a talk show featuring T1 esports players Doran (Choi Hyun-jun) and Oner (Moon Hyun-jun) will be held. Professional guide tours and stamp tours will also operate.
Kim Jeong-il, Executive Vice President of the KCCI, said, "Social problems are becoming increasingly complex and difficult to solve through the efforts of any single entity." He added, "We hope this Festa will establish itself as a social solution platform that connects the capabilities of diverse entities, transforming 'individual concerns' into 'collective solutions.'"
in INDUSTRY
